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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Nancy who wrote (30203)	12/4/1997 8:12:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

Hi Nancy, The TECHNICAL DELAYED DIP CLASS 1 on the OSX came based on Monday's data, which I reviewed after the close; therefore it means that it was to be purchased at the low on Tuesday. If I recall correctly, the OSX on Tues opened up about 1 point above the Monday's close. I had purchased the call as soon as the options were opened on the basis that in most cases where I have a CLASS 1 buy and it opens higher on the buy-in day, such confirms the CLASS 1 BUY. I checked the short-term technicals and if the OSX continues to move up 2-5 points today it will become overbought, and I will sell calls. Nancy, you are actually much more familiar with the individual components than I am. On just a technical basis not considering any fundamentals, I have technicals indications that the OSX can easily get above 130 before January. That is why I do not want to sell the whole position but play with the spread strategy to go for the bigger move. What's your read on it? Seeya